Just Closed – Retail Building in Santa Monica | $3,750,000
Brett Lyon and Woody Stahl of Lyon | Stahl are pleased to have closed 1414-1418 Wilshire Blvd, a retail building in Santa Monica!
This prime retail building is 3,250 SF (not including mezzanine space) and is situated on approximately 5,000 SF of land. Comprised of three (3) tenants (with single tenant opportunity to combine units), this property is exceptionally located on the busy thoroughfare of Wilshire Blvd. Just blocks from the 3rd Street Promenade, this property is in close proximity to many other retailers, restaurants, and entertainment options — making it a highly sought after location. Boasting traffic counts that exceed 30,000 vehicles per day (VPD) to go along with its exceptional walk score of 91, the property receives a great deal of exposure to potential customers. Given its magnificent location and market CAP rate potential of 3.50%+, this is a great opportunity for any investor looking to expand their portfolio and acquire prime Santa Monica real estate.
● Prime retail building located on Wilshire Blvd in the heart of Santa Monica
● 3,250 SF building + mezzanine space | Situated on approx. 5,000 SF of land
● High pedestrian and vehicle traffic counts | Over 30,000 VPD | 91 walk score
● Extremely dense area (43,661=1 mi radius) with an exceptional economy ($114,185 avg household income)
● Huge upside in market rent potential | Current CAP – 1.30% | Market CAP – 3.50%+
● Single tenant opportunity to combine units
● Giant city parking lot in rear of building
● Surrounded by national credit tenants